Very Group sale scrapped as bidders decline two billion pound asking price

The potential sale of British online retailer Very Group is reportedly close to being scrapped after prospective buyers declined to meet the two billion pound asking price.

According to Sky News, Carlyle Group, which took control of Very following a financial restructuring last year, is expected to remain the retailer’s owner for the foreseeable future.

A sale process was launched as a condition of the change of control, but sources for the media outlet said the deal did not require Carlyle to accept an offer below its valuation. Chinese e-tail giant JD.com and US investment firm Elliott Advisors had both reportedly been considering a bid.

For JD.com, the takeover would have strengthened its presence in the UK following the launch of its Joybuy platform. However, scrutiny surrounding its proposed acquisition of German retailer Ceconomy, alongside political scrutiny of its UK expansion, has complicated its plans, Sky News said.

Very Group, which operates as an online department store selling fashion, among other categories, recorded a 3.7 percent decline in the fashion and sportswear department for the 2025 financial year, despite the category remaining central to its online offer.

The retailer is expecting full-year EBITDA to sit between 310 million to 320 million pounds, up from 267 million pounds in 2025.